Novanta Inc (NOVT)
Return on assets (ROA)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 72,878 | 75,629 | 76,896 | 73,496 | 74,051 | 72,543 | 63,656 | 57,841 | 50,331 | 49,233 | 43,888 | 43,884 | 44,521 | 41,082 | 41,747 | 40,467 | 40,773 | 43,200 | 48,831 | 49,451 |
| Total assets | US$ in thousands | 1,226,060 | 1,194,280 | 1,232,720 | 1,225,820 | 1,241,210 | 1,207,530 | 1,205,840 | 1,206,160 | 1,227,880 | 1,210,240 | 877,945 | 852,254 | 865,179 | 857,534 | 861,027 | 841,968 | 869,736 | 857,960 | 783,373 | 752,660 |
| ROA | 5.94% | 6.33% | 6.24% | 6.00% | 5.97% | 6.01% | 5.28% | 4.80% | 4.10% | 4.07% | 5.00% | 5.15% | 5.15% | 4.79% | 4.85% | 4.81% | 4.69% | 5.04% | 6.23% | 6.57% |
December 31, 2023 calculation
ROA = Net income (ttm) ÷ Total assets
= $72,878K ÷ $1,226,060K
= 5.94%
Novanta Inc's return on assets (ROA) has shown a steady increase over the past few quarters, with Q3 2023 reaching its highest point at 6.33%. This indicates that the company is generating a higher level of profit relative to its assets in recent quarters. However, it's worth noting that the ROA dipped slightly in Q4 2023 to 5.94%, which may be a result of various factors impacting the company's financial performance. Overall, Novanta Inc's ROA performance has been relatively strong, suggesting efficient management of its assets to generate profits. Continued monitoring of this metric will be important to assess the company's financial health and performance in the future.
Peer comparison
Dec 31, 2023